10597 E Traverse Hwy Pitchbook
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10597 E Traverse Hwy Pitchbook

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15 Acre Development parcel within the Traverse city limits. Perfect for an Assisted Living | Affordable Housing Development

15 Acre Development parcel within the Traverse city limits. Perfect for an Assisted Living | Affordable Housing Development

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10597 E Traverse Hwy Pitchbook Presentation Transcript

  • 1. DEVELOPMENT OPPORTUNITY TRAVERSE CITY, MICHIGAN Traverse City For information contact: Kevin Endres, P.E. Owner / REALTOR 231.534.5225 Mobile kendres@threewest.net THREE WEST, LLC Licensed Real Estate Broker 4020 Copper View Three West is pleased to present this excellent development parcel in Traverse City, Michigan. The Ste. 129 development site is a 14.94 +/- acre parcel near the M-72 / M-22 intersection in Traverse City, Michigan. Traverse City, MI 49684 The site is approximately 0.4 miles from West Grand Traverse Bay and 1 mile from the Traverse City CBD. 231.929.2955 Phone This is an opportunity to own one of the last remaining development parcels within the limits of Traverse 231.929.2970 Fax City. ©2008, Three West, LLC. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
  • 2. DEVELOPMENT OPPORTUNITY TRAVERSE CITY, MICHIGAN Traverse City TABLE OF CONTENTS Project Statistics & Highlights 3 Project Site – Existing Site 4 For information contact: Project Site – Conceptual Site Plan 5 Kevin Endres, P.E. Property Photos 6 Owner / REALTOR 231.534.5225 Mobile Traverse City Market Overview 7 kendres@threewest.net Traverse City Overview Map 8 THREE WEST, LLC Licensed Real Estate Broker 4020 Copper View Ste. 129 Traverse City, MI 49684 231.929.2955 Phone 231.929.2970 Fax ©2008, Three West, LLC. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. 2
  • 3. DEVELOPMENT OPPORTUNITY TRAVERSE CITY, MICHIGAN PROPERTY STATISTICS PROPERTY HIGHLIGHTS Traverse City • Project Size: 14.94 Acres +/- • Work Force Housing Incentives including grants and other Low Income Housing Tax Credits and Vouchers • Property Address: 10597 East Traverse Highway (M-72) • Opportunity to construct up to 80 work force housing units • Zoning: R-1b / Mixed Use PUD / Morgan Farms Area including single family and multi-family units • Water Source: Municipal • Project site is located close to Tom’s Food Market, local bank branch, laundry facility, downtown and jobs. • Sewer Source: Municipal • The TART Trail is located within ½ mile of the site which • M-72 / M-22 Intersection ADT (2006): 23,800 allows access for bicycles and pedestrians from Suttons Bay to Williamsburg For information contact: PROPERTY HIGHLIGHTS • Public Transportation is available within the Traverse City Kevin Endres, P.E. region (Bay Area Transportation Authority) Owner / REALTOR • Zoning allows for construction of C-2 uses and lodging 231.534.5225 Mobile facilities of up to 50% of gross floor area of the project kendres@threewest.net where at least 20% of the project’s housing units meet the City’s affordable housing standards. • Opportunity to currently be the only hotel on the west THREE WEST, LLC side of Traverse City Licensed Real Estate Broker 4020 Copper View • Highway exposure (M-72) Ste. 129 Traverse City, MI 49684 • Traverse City Market provides many year around 231.929.2955 Phone demand generators (see Page 7 for more details) 231.929.2970 Fax ©2008, Three West, LLC. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. 3
  • 4. DEVELOPMENT OPPORTUNITY TRAVERSE CITY, MICHIGAN Traverse City EXISTINTG SITE Carter Road For information contact: Kevin Endres, P.E. Owner / REALTOR 231.534.5225 Mobile kendres@threewest.net THREE WEST, LLC Licensed Real Estate Broker 4020 Copper View Ste. 129 Traverse City, MI 49684 231.929.2955 Phone 231.929.2970 Fax ©2008, Three West, LLC. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. 4
  • 5. DEVELOPMENT OPPORTUNITY TRAVERSE CITY, MICHIGAN Traverse City CONCEPTUAL SITE PLAN For information contact: Kevin Endres, P.E. Owner / REALTOR 231.534.5225 Mobile kendres@threewest.net THREE WEST, LLC Licensed Real Estate Broker 4020 Copper View Ste. 129 Traverse City, MI 49684 231.929.2955 Phone 231.929.2970 Fax ©2008, Three West, LLC. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. 5
  • 6. DEVELOPMENT OPPORTUNITY TRAVERSE CITY, MICHIGAN Traverse City For information contact: View From SW corner looking East down M-72 View From SW Corner looking West down M-72 Kevin Endres, P.E. Owner / REALTOR 231.534.5225 Mobile kendres@threewest.net THREE WEST, LLC Licensed Real Estate Broker 4020 Copper View Ste. 129 Traverse City, MI 49684 231.929.2955 Phone 231.929.2970 Fax View of wooded East side looking North View from South looking North 6
  • 7. DEVELOPMENT OPPORTUNITY TRAVERSE CITY, MICHIGAN Traverse City TRAVERSE CITY REGION OVERVIEW • The Traverse City Area is one of the state’s leading • The growth of Retail sales in Grand Traverse County tourism destinations. The number of visitors to Grand rose from approximately $900 million in 1997 to about Traverse County has increased steadily from an $1.7 billion in 2006, with an annualized growth rate of estimated 1.2 million in 1990 to 1.9 million in 2005. about 6% per year, or a cumulative increase of about $780 million. • While population growth across the area is similar to that of the U.S. as a whole, local growth rates are • The Traverse City Region is home to over 20 of some significantly above statewide averages. of the country’s finest golf courses including courses designed renowned PGA tour players Jack Nicklas, • Grand Traverse County’s population as of 2006 was Arnold Palmer, and Gary Player. 86,413 and is expected to climb to 92,540 by 2011. For information contact: This accounts for an annual population increase of • Grand Traverse County includes more than a dozen 1,225. crystal clear inland lakes, blue ribbon trout streams, Kevin Endres, P.E. and part of Lake Michigan. These exceptional • The median household income in 2006 for the area waterways provide vacationers bountiful opportunities Owner / REALTOR within a 10 mile radius of downtown Traverse City was for fishing, boating, swimming, diving, and general 231.534.5225 Mobile $52,935 and for Grand Traverse County it was $51,641. recreation. kendres@threewest.net These median household incomes are expected to increase by 2.9% by the year 2011, or $61,339 and • Traverse City is centrally located to multiple winter $59,564 respectively. sporting venues including Crystal Mountain and Boyne Mountain. Traverse City is also home to the nationally THREE WEST, LLC • Grand Traverse County restaurant sales in 2006 recognized VASA X-Country Ski Trail and miles and Licensed Real Estate Broker according to Claritas were approximately $150 million. miles of snowmobiling trails. 4020 Copper View This is an increase from $96 million in 1997 and $124 Ste. 129 million in 2002. •The Old Mission Peninsula is recognized as an Traverse City, MI 49684 Appalachian and is home to some of the countries 231.929.2955 Phone finest wineries. 231.929.2970 Fax ©2008, Three West, LLC. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. 7
  • 8. DEVELOPMENT OPPORTUNITY TRAVERSE CITY, MICHIGAN TRAVERSE CITY OVERVIEW MAP Traverse City 11 West Grand Traverse Bay 13 6 12 1 US-31 7 8 East Grand Traverse Bay 9 & 10 For information contact: Kevin Endres, P.E. Owner / REALTOR 5 231.534.5225 Mobile 2 kendres@threewest.net 3 Mile Road South Airport Rd. THREE WEST, LLC Licensed Real Estate Broker 4020 Copper View 3 4 1. Downtown Traverse City 6. Clinch Park Marina 11. Elmwood Township Marina Ste. 129 2. Cherry Capitol Airport 7. Northwestern Michigan College 12. Great Lakes Maritime Academy 3. Grand Traverse Mall 8. Munson Medical Center 13. Old Mission Peninsula Wineries Traverse City, MI 49684 4. Grand Traverse Crossings 9. Turtle Creek Casino 231.929.2955 Phone 5. Holiday Hills Ski Area 10. Grand Traverse Resort 231.929.2970 Fax ©2008, Three West, LLC. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. 8